Page 35 - August-2020-Issue

ARTICLE

Infrastructure Development healthcare in schools and clinics
Fund (DIDF) “We want to make India a and have proven to very success-
ful. Zomato, with funding of $
• Support for International place for start-ups.”
Patent Protection in – Prime Minister of India 755.6 Million is one of the most
Electronics and Information well known startups and suc-
Technology (SIP-EIT) cessful food tech in India that has
turned into an international busi-
• Multiplier Grants Scheme funds have raised a corpus fund ness. Paytm with funding of $ 2.2
(MGS) Billion is very successful startup
of ` 25,728 Cr. ` 736.76 Cr. have
• Credit Guarantee Scheme for been drawn from the FFS and ` & is a payment service dominat-
Start-Ups (CGSS) 2,793.93 Cr. have been invested ing all over India. FreshToHome
with current funding of $ 13
• Software Technology Park into 285 startups. Million, a delivery service that
(STP) Scheme If data and progress is to be ana- focuses on meat and fish has ex-
• Venture Capital Assistance lyzed, less than 10% of 393,344 panded to 20 cities. Similarly,
(VCA) Scheme Users on Startup India Portal are FreshMenu with funding of $ 24.2
recognized by DPIIT, just 31,725. Million is another food delivery
• Loan for Roof Top Solar Pv In terms of employment as on 31 service growing exponentially.
st
Power Projects March 2020, as informed by the There are many other Startups
• NewGen Innovation Hon’ble Commerce and Industry that infuse confidence in Startup
and Entrepreneurship Minister in a written reply in Ecosystem with their successes.
Development Centre (NewGen the Lok Sabha, 3,37,335 employ-
IEDC) ment by 27,137 DPIIT recognized Journey of Foreign
startups.
• Single Point Registration Nationals in India
Scheme (SPRS) NASSCOM reported that Startups Interestingly, a host of foreign
in India saw a 108% growth in nationals are relocating to India
• Modified Special Incentive total funding from USD two bil- to fulfill their startup ambitions
Package Scheme (M-SIPS) lion in 2017 to USD 4.2 billion in tech sector, despite stumbling
• Stand Up India Scheme: bank in 2018, however, decline in fund- blocks. Some of them have even
loans to atleast one sched- ing for companies at the seed settled here. This can enhance
uled caste (SC) or Scheduled stage from USD 191 million in India’s global perspective. Mr.
Tribe, borrower and atleast 2017 to USD 151 million in 2018. Jose Leon runs a medical trans-
one Women per bank branch The gap between overall fund- portation startup StanPlus an
for setting up a Greenfield ing & seed funding also needs at- Uber for ambulances, with his
Enterprise. tention if Startups are to be sup- INSEAD batchmate Prabhdeep
ported when they look for more of Singh. Investors like Nakkyun
These schemes provides eligi- seed money. Chome, from South Korea, failed
ble Start-ups financial benefits, in his e-grocery Startup in India
Income Tax benefits, Registration Progressive Journey of moved to a market place for gift
benefits, availing Government
Tenders and use of networking Indian Startups vouchers giftiicon and could net $
opportunities. Indian Startup Ecosystem is wit- 1 Million in seed funding. British
nessing many successes, to quote entrepreneur Lizzie Chapman
a few, Wow! Momo, a food chain is running a Fin-Tech Company
Data & Progress of Startup: with funding of $470 Million with called Zest Money in Bengaluru
In the backdrop of branches in Delhi, Chennai, Kochi whereas Skeve Hardgrave from
National Vision besides other places. Ola Cabs US could raise $ 75 Million in
As on 22 December 2019, SIDBI with funding of $3.80 Billion. funding to grow Edu-tech Startup
nd
has committed ` 3123.20 Cr to AddressHealth, with $1.50 Varthana to offer services to im-
47 SEBI registered Alternative Million causing a storm in the in- prove access to provide school
Investment Funds (AIFs). These dustry with focus on providing education in India.

Kaleidoscope May, 2020 35